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25040Venturebeat.comTurkish engineers get $2.5M for Hazelcast, an open source in-memory data grid for Javahttp://venturebeat.com/2013/09/19/turkish-engineers-get-2-5m-for-hazelcast-an-open-source-in-memory-data-grid-for-java/
http://venturebeat.com/2013/09/19/turkish-engineers-get-2-5m-for-hazelcast-an-open-source-in-memory-data-grid-for-java/#respondThu, 19 Sep 2013 19:02:51 +0000http://venturebeat.com/?p=815091Hazelcast is designed to prevent enterprise applications from drowning in data. The open source technology provider closed a $2.5 million series A round today.
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In Turkey, a group of five engineers developed an elegant solution to tackle one of the biggest challenges for Java developers.

This solution, dubbed Hazelcast, is designed to prevent enterprise applications from drowning in data. Developers need a better way to manage all this data, while ensuring that the application can perform and scale.

“An app can run simultaneously on hundreds of machines, which makes life very complicated for developers,” said Salil Deshpande, a managing director at Bain Capital, the firm that invested almost $2.5 million today. Bain was joined by existing angel investors, including Golden Gate Software’s Ali Kutay.

With Hazelcast, “automatically these data structures in applications are aware of each other,” Deshpande, explained. “That’s the way to scale up data access.”

Hazelcast has developed a “drop­in library” that any Java developer can use to build in-memory applications in a matter of minutes. Applications running Hazelcast will dynamically cluster and create a single system view.

Hazelcast’s founders are on a mission to commoditize the in-memory grid space altogether, and replace it with open source technology. On Github and on its website, the technology is being downloaded by developers at a rate of 70,000 instances per month.

Java experts have come on board to help Hazelcast with its sales and marketing efforts, and to help the company land major enterprise contracts. Bain Capital Ventures’ Deshpande is a former open source developer himself. He will join the board of directors, along with Rod Johnson, founder and chief executive of SpringSource (a Java application framework acquired by VMware).

Deshpande told me that many venture firms were angling to fund Hazelcast, but the entrepreneurs were impressed by his track record of funding disruptive open source companies, including ZeroTurnaround, Engine Yard, SpringSource, G2One and MuleSoft.

This week, founders relocated to Palo Alto, Calif., the heart of Silicon Valley. The majority of the developers will remain in Turkey.

At CloudBeat, VentureBeat’s recent customer-focused cloud conference, I caught up with Sanjay Poonen, president and corporate officer at SAP, who specializes in technology and product innovation. That afternoon, Poonen was joined on stage by one of the company’s biggest healthcare customers McKesson to discuss ongoing concerns about the cloud and their reasons for selecting SAP.

In this ensuing discussion, Poonen revealed that SAP has hedged its bets on its own big data solution, known as HANA. He told me that IT will be “transformed” by big data. In 2013, he said, “a lot of the hype goes out [the door] and the substance starts to show up.”

Watch the video for more of SAP’s predictions on the big tech trends for the coming year.